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With Bitcoin still in its infancy, there remains a need for merchants to start accepting bitcoins and for new web services that make use of the low operational fees and commissions available to Bitcoin users. One such new service is BitForTip.com.
BitForTip is a question-and-answer-type website where users can tip and earn bitcoins by posting questions or answering questions from other members. BitForTip takes advantage of Bitcoin’s tendency to work extremely well with micro-transaction style, instant payments to encourage users to answer people’s questions.
HOW IT WORKS
After creating an account on BitForTip, the system will generate a Bitcoin wallet address for you which is automatically connected to your account. You can deposit or withdraw Bitcoin to and from this account wallet as you would with any other wallet, in order to either fund your account to be able to ask more question, or to withdraw any profit you made from answering other members’ questions.
Once you’ve funded your account wallet with a minimum of 0.0001 BTC ($0.02 at the time of writing), you are ready to ask a question. After entering required details (title, additional info, etc) you will be asked to put an amount of bitcoins in escrow from your account wallet. Then you wait for the answers to roll in.
When someone provides you with the “right answer” or whatever information you were looking for, you then manually release the reward from escrow and the amount is credited directly and instantly to the member’s account wallet.
The idea is that sometimes, as much information as there is on Google, it can still be harder to find whatever you’re looking for than paying someone a small tip for giving you the answer you’re looking for.
BitForTip may be a new player in the market, but it’s already had quite a few success stories. If you click on the “closed questions” link on the bottom right of the BitForTip website you’ll find the types of questions BitForTip works best for… highly specific and niche questions you probably won’t be able to find answers for on Google. Questions such as:
- nabs wanted to know (for 0.0001 BTC) if someone knew about a website where he could click a button and have a song generated for him
- For 0.004274 BTC, Zeus got someone to find him a Samsung Galaxy S6 32GB for $112 AUD cheaper than regular market price
- panagot posted a photo of a t-shirt and asked the community where he could buy one like it and have it shipped to Greece, for 0.02 BTC
Could the answers to most questions be found on Google? Maybe. Would you be able to find that t-shirt, for example, or a cheaper Galaxy S6? Sure, but you’d need to spend hours digging through Google’s search results to somehow stumble onto the answer you want.
On the other hand, for 0.004 BTC (just under $1), Zeus saved $112 AUD, a lot of headache, and made TBZI (the user who found the cheapest phone) a little bit happier.
I highly recommend BitForTip if you’re looking for an answer that requires either a lot of legwork or specific expertise. All you need is 0.0001 BTC (or $0.02 USD).
On the other hand, if you’ve got some expertise or other, why not create an account and start answering questions? You don’t need to fund your account to answer questions.
Everybody wins when we help each other, and BitForTip makes that happen.